Verified Investing on $SMCI (Nov 3, 2026)
SMCI closed at $3044 after falling from about $45 last month with bearish consolidation, which the speaker says signals likely near-term downside; earnings after the bell could be the catalyst. With support stacked near $29.34, $29 and $28.17 plus a March-to-July trendline, he anticipates a near-to-medium-term bounce if selling pressure continues today or tomorrow.
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As you heard from the other prot traders, we've got a lot of earnings going on. This is the earning season and this chart right here's got earnings today. SMCI on the daily time frame is going to report after the bell.
Now, you can see here we've had a very nice decline ever since reaching about $45 uh just this last month in October. And you can see price actions come down, put in some bearish consolidation on the chart.
Today we're actually rising up every ever so slightly. We see closed yesterday at $3044.
That close was the signal that price action is likely going to go lower in the near term. Could that catalyst be earnings this afternoon? It very well could be. Now, where would the support be?
Now, you can see we're actually approaching some long-term multi-layered stacked levels of resistance. First starting with a gap fill here right around $29.34. Then we have a pivot high right here with a breach of $29.
And then as you see here, we've got the 786 fib retrace at $28.17. And then lastly, an inclining trend line from March of this year connected over to the low pivot in July. That all settles in right there underneath that 2817 mark.
So that is going to be a cradle of support should we see selling pressure on SMCI either today and or tomorrow after earnings.
I'm anticipating a nice near to medium-term bounce up on SMCI should we see further selling pressure today.
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